Australian Financial Review- AGK News Stand

Australian Financial Review

CBA share price: Why a ‘bemused’ Matt Comyn is wary of banking’s mortgages battleground

CBA’s CEO started banging the drum on loss-making mortgages early last year. Now, the broader banking sector appears to be thinking like Comyn.

Budget 2024: Governments have already injected $23 billion in new policy spending into the economy even before Treasurer Jim Chalmers hands down the federal budget on Tuesday

The federal budget has injected $22 billion of new policy spending over two years, which economists say will cause higher interest rates than necessary and delay any rate cuts.

Orica CEO Sanjeev Gandhi wants Labor to commit to more urgent action on gas

The explosives giant’s CEO, Sanjeev Gandhi, welcomes the government’s new gas pledge, but says more urgent action is needed to protect manufacturers.

ASX stocks rally ‘too good to be true’ warns Mable-Brown Abbot

Investment chiefs are warning the Australian sharemarket is looking too expensive given the uncertain economic backdrop and therefore a good reason to remain cautious this year.

CBA ASX: CBA prints $2.4b profit for the quarter, says ’momentum improving

The net profit for the three months to March was 5 per cent lower than the previous third quarter.

ASX 200 LIVE: CBA down; Baby Bunting fuels retail dive, JB Hi-Fi, Harvey Norman fall

Shares slip 1.1pc. Retail worries mount on multiple trading updates. CBA’s profit slips 5pc, consumer debts creep higher. Westfield lifts investment after Bondi attack. Follow here.

The bad news in ANZ, Westpac and NAB’s $4.5 billion buyback bonanza

ANZ joined the bank buyback party on Tuesday. Investors love getting excess capital back, but do these buybacks show the banks are short of growth options?

ANZ ASX: ANZ unveils $2 billion share buyback despite profit slide

The lender said profits were down in retail banking with conditions “more competitive than ever”. But its strong capital position will paved the way for the big buyback.

WBC ASX: Westpac pays special dividend despite profit down 16pc

The Westpac boss says the return of $1.5 billion to shareholders is a sign of confidence in the Australian economy and the outlook for bad debts.

NAB ASX: National Australia Bank reloads $1.5b buyback despite fall in interim cash earnings to $3.55b

National Australia Bank’s first-half profit tumble underlined the toll intense mortgage competition is still claiming on margins.